10 Things to Prepare Before Going to Your Bookkeeper
Working with a bookkeeper is essential for keeping your financial records in order and ensuring smooth tax filing. To make the most of your appointment, preparation is key. Here’s a checklist of 10 things you should organize before meeting your bookkeeper:
2. Expense Receipts
Compile receipts for business-related expenses. This includes office supplies, travel, marketing, utilities, and other deductible costs. Digital receipts should also be categorized.
3. Bank Statements
Bring statements for all business accounts, including checking, savings, and credit cards. This helps your bookkeeper reconcile transactions accurately
4. Payroll Records
If you have employees, provide payroll records, including pay stubs, tax deductions, and benefits documentation.
5. Tax Documents
Include previous years’ tax returns, GST/HST filings, and any notices from the Canada Revenue Agency (CRA) to ensure compliance and accuracy.
6. Loan and Debt Statements
Provide documentation of any business loans, credit lines, or outstanding debts. Your bookkeeper needs these to track liabilities.
7. Inventory Records
If your business involves inventory, ensure you have a current count and valuation ready.
8. Contracts and Agreements
Supply copies of lease agreements, vendor contracts, and other financial commitments affecting your business.
9. Business Registration Details
Ensure your business number, registration documents, and any related licenses are available.
10. Specific Questions or Concerns
Prepare a list of questions or areas where you need guidance, such as optimizing cash flow or improving record-keeping processes.
By organizing these documents and details in advance, you’ll save time and allow your bookkeeper to focus on what they do best—helping you maintain accurate financial records and providing valuable insights to grow your business.